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Posts Tagged ‘november 2012 car sales’

Motorists Paying More – But Loans Easier to Get

Incentives also increase.

by on Dec.05, 2012

Hyundai boasted the lowest incentives -- and the lowest transaction prices -- last month.

If you bought a car in November odds are you paid more than you would have at almost any time in the past year.  Transaction prices – what motorists actually spend after working in incentives and factory options – are at or near record levels.

That’s despite the fact that many manufacturers increased givebacks last month, hoping to keep sales momentum going. They’ve also been working with lenders to ensure that credit continues to become more readily available – though motorists have been stretching out loans and are now taking an average of 64 months to pay off a car purchase.

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“Industry average transaction prices climb once again with consumers’ continued appetite for highly contended vehicles,” said Jesse Toprak, Senior Analyst at the data tracking service TrueCar. “Today’s consumers value a nicely equipped vehicle as much as they do a low cost of ownership. Automakers are getting better at providing all the modern conveniences consumers come to expect for more of their models, resulting in higher overall prices hence improved profitability.”

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Chevy Volt Sales Short-Circuit

Volt falls behind both Nissan Leaf and Toyota Prius Plug-in.

by on Dec.04, 2012

Sales of the Chevrolet Volt, left, fell behind the Nissan Leaf for the first time this year.

After charging up for the first 10 months of the year, sales of the Chevrolet Volt plug-in hybrid unexpectedly short-circuited last month.

Volumes fell to barely half of September and October levels – ensuring that Chevy will end 2012 selling barely half as many Volts as it had originally hoped for this year. The plug-in’s sales for November fell behind those of two key rivals, the Nissan Leaf battery-electric vehicle and Toyota’s Prius Plug-in. But all three models appeared to lose some momentum despite the overall surge of the U.S. car market.

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Even so, Chevrolet officials downplayed last month’s weak performance and ascribed it to inventory issues. The maker has twice halted production at the Volt plant in Detroit since spring, most recently between mid-September and mid-October to re-tool the facility to also handle production of the next-generation Chevrolet Impala.

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